Carmignac replaces entire European equity team

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Carmignac Gestion has kicked off 2014 by replacing its three-strong European equity team with a quartet from a London-based investment firm, Citywire Global can reveal.

The European equity team, which was previously led by Laurent Ducoin and included co-managers Samir Essafri and François-Joseph Furry, has left the Paris-based firm.

The new recruits join from London-based boutique SAC Global Investors and will be led by Muhammed Yesilhark, who joins the group alongside three analysts Malte Heininger, Huseyin Yasar and Saiyid Hamid.

The Carmignac Grande Europe, Carmignac Euro-Patrimoine fund and Carmignac Euro-Entrepreneurs will be run by the new team which is based in Carmignac Gestion’s recently opened London office headed up by Maxime Carmignac.

Speaking exclusively to Citywire Global on the new appointments, Carmignac Gestion’s spokesperson and investment committee member Didier Saint-Georges, said:

‘The idea with these new appointments is we wanted to put into place a similar setup we have got in the other asset classes we invest in like emerging markets and natural resources.’

‘The new team are truly bottom up investors and real stockpickers, that is what we look for. We expect them not only to generate strong performance on our European products but also to contribute their expertise to our overall asset allocation strategy.’

The former head of European equity at Carmignac Gestion, Laurent Ducoin, joined the firm back in October 2011 from BlackRock. His colleague Samir Essafri had spent three years with the group while François-Joseph Furry had joined in 2008.